Saturday Trades Thursday Update 12/28/2023 – Bubba Trading

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Saturday Trades Thursday Update 12/28/2023

New Highs everywhere – It doesn’t stop

The rally that never quits made new highs again on Wednesday. The rally that started in October is now up over 20% with no signs of stopping.

We have been long the entire rally and know it can continue longer than we might think. With the last two trading days of the year expect this rally to continue into the new year.

If we see a blow off after the first of the year, we may look to play that. However, we are not going to fight this rally, if you don’t want to play, observe

Roll QQQ (new strikes 410.78/404.78) to Friday.

Rolls

GS – Buy to close 1 December 29th 355/345 Strangle/ Sell to open 1 January 5th 355/345 Strangle Credit 1.00

JPM – Buy to close 1 December 29th 160/155 Strangle/ Sell to open 1 January 5th 160/155 Strangle Credit 1.00

CHWY – Buy to close 1 December 29th 18 Straddle/ Sell to open 1 January 5th 18 Straddle Credit .50

TSLA – Buy to close 1 December 29th 255/225 Strangle/ Sell to open 1 January 5th 255/225 Strangle Credit 3.00

MU – Buy to close 1 December 29th 76 Straddle/ Sell to open 1 January 5th 76 Straddle Credit .50

NVDA – Buy to close 1 December 29th 500/450 Strangle/ Sell to open 1 January 5th 500/450 Strangle Credit 4.50

AAPL – Buy to close 1 December 29th 192.5/187.5 Strangle/ Sell to open 1 January 5th 192.5/187.5 Strangle Credit 1.50

AMZN – Buy to close 1 December 29th 149/145 Strangle/ Sell to open 1 January 5th 149/145 Strangle Credit 1.50

Exercise and Assignment

Chat Room Link

New Trades

OPEN TRADES

(Some of the call strikes could be different from what you are holding. I’m reflecting the rolls made on the open, some of you rolled again. This is a guide)

QQQ – (17.36) (400.00 Credit Collected)
Short 1 December 28th 410.78 Call
Short 1 December 28th 404.78 Put
Long 2 January 19th 413 Call
Long 2 January 19th 403 Put

IWM – (8.75) (300.00 Credit Collected)
Short 1 December 29th 200 Call
Short 1 December 29th 194 Put
Long 2 January 19th 202 Call
Long 2 January 19th 192 Put

GS – (12.04) (115.00 Credit Collected)
Short 1 December 29th 355 Call
Short 1 December 29th345 Put
Long 1 January 19th 355 Call
Long 1 January 19th 345 Put

JPM – (4.50) (100.00 Credit Collected)
Short 1 December 29th 160 Call
Short 1 December 29th 155 Put
Long 1 January 19th 160 Call
Long 1 January 19th 155 Put

TSLA – (15.70) (980.00 Credit Collected)
Short 1 December 29th 255 Call
Short 1 December 29th 225 Put
Long 1 January 19th 255 Call
Long 1 January 19th 225 Put

CHWY – (5.41) (510.00 Credit Collected)
Short 1 December 29th 18 Call
Short 1 December 29th 18 Put
Long 1 January 19th 17.5 Call
Long 1 January 19th 24 Call
Long 2 January 19th 17.5 Put

MU – (9.57) (600.00 Credit Collected)
Short 1 December 29th 76 Call
Short 1 December 29th 76 Put
Long 1 January 19th 77.5 Call
Long 1 January 19th 82.5 Call
Long 2 January 19th 75 Put

AMZN – (15.27) (7.85 Credit Collected)
Short 1 December 29th 149 Call
Short 1 December 29th145 Put
Long 1 January 19th 150 Call
Long 1 January 19th 155 Call
Long 2 January 19th 145 Put

NVDA – (10.14) (1876.00 Credit Collected)
Short 1 December 29th 500 Call
Short 1 December 29th 450 Put
Long 1 January 19th 510 Call
Long 1 January 19th 440 Put

AAPL – (10.14) (850.00 Credit Collected)
Short 1 December 29th 192.5 Call
Short 1 December 29th 187.5 Put
Long 1 January 19th 195 Call
Long 1 January 19th 200 Call
Long 2 January 19th 185 Put

By Todd "Bubba" Horwitz|2023-12-28T08:42:59-05:00December 28, 2023|BAD, Sunday Night Options|Comments Off

About the Author: Todd "Bubba" Horwitz

For more than 36 years, Todd “Bubba” Horwitz has enjoyed a successful career in the financial industry. He began his profession in 1980 as was one of the original market makers in the SPX Trading Pit at the Chicago Board of Options Exchange. He has traded at all of the major exchanges in Chicago and is currently a member of the CBOT. In addition to his trading, for the past five years he has concentrated on writing, education, and a media career.

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